Thursday, 19 October 2017 12:37 GMT
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UK - Director Deals - Big Yellow executive chairman and CEO sell shares

(MENAFN - ProactiveInvestors - UK) The executive chairman of Big Yellow (LON:BYG) picked an opportune time to reduce his holding in the self storage group with shares just coming off an all-time high



Nicholas Vetch sold 50,000 at a fiver each, netting him a very handy £250,000. Whether this should be interpreted as a sell signal only time will tell



Vetch still has plenty of skin in the game with a 6.41% share of the business worth £45mln at today's prices. And while his CEO made £229,000 selling stock, his was a share option trade therefore not a particularly strong indicator



That said, it will be worth seeing whether Vetch and Gibson's share sales prompt some profit-taking on an investment that has gone up 32% in the past year



For a change the buyers outstripped the sellers (in number at least) this week, which must mean we are through the quarterly results season



The most notable boardroom acquisition was made by Andrew Austin, boss of IGas (LON:IGAS), one of the firms at the forefront of Britain's nascent shale revolution



He acquired 300,000 shares in the business he runs at 135.38p each. To do so he agreed a loan facility using 7.5mln shares he already owns as security



The purchase takes Austin's interest to 5.41% of the company and comes in the week the group was involved in farm-out of shale assets in Lincolnshire that brought in almost US$50mln of new investment from France's Total



The French giant's move came as Prime Minister David Cameron said the coalition is "going all out for shale"



This week IGas has galloped ahead 38% on the back of Total's involvement, while Egdon (LON:EDR), the other UK listed shale play is up almost 170%



And finally Peter Jones bought almost £579,000-worth of shares in eXpansys (LON:XPS), the e-commerce, wireless and consumer technology group where he is deputy chairman and 50% shareholder.



Perhaps the Dragon sniffs a bargain with the stock down 37% in the last year


UK - Director Deals - Big Yellow executive chairman and CEO sell shares